First Quantum Minerals Ltd.

Title: First Quantum Minerals Ltd.
Category: Mining
Clicks: 11
Added on: Nov 26, 2011
First Quantum Minerals is a mining company engaged in development, exploration, and mining operations. Based in British Columbia, the company is listed on TSX under the symbol FM and on the London Stock Exchange under FQM.

First Quantum Minerals was established in 1983 and acquired Adastra Minerals in 2006 for $245 million in stock and cash. The company acquired Scandinavian Minerals Ltd in 2008, which was developing the Kevitsa project, found in Finland. The Ravensthorpe Nickel Mine was acquired from BHP Billiton in 2009 for $340 million USD. The company sold its share in the mining and exploration company Equinox Minerals in 2010.

First Quantum Minerals operates two mining sites, the Kansanshi mine and the Guelb Moghrein mine. The Kansanshi mine is a copper-gold mine found in Zambia and Guelb Moghrein is a copper-gold mining operation in Mauritania. Mining in Kansanshi is carried out in the Northwest and Main pits, using hydraulic excavators, conventional open pit methods, and haul trucks. The chosen method of treatment is based on variations in the type of ore. Sulphide ore is processed through floatation, milling, and crushing to produce copper. Oxide ore is processed through milling, crushing, floatation, the SX/EW process, and leaching to produce electro-won cathode copper and gold bearing and sulphidic concentrate.

Mining operations in the Guelb Moghrein mine started in 2006. The copper floatation plant was commissioned in 2006, and production started the same year. Mining takes place in an open pit, and haul trucks and hydraulic excavators are used. Gold-copper concentrate is produced from sulphide ore at the processing plant. The estimated life of the mining site is about 6.5 years.

The primary product of the company is copper. It is used to produce copper alloy products, copper products, and copper wire. Cable and wire copper is formed into or used for creating utility power cable, industrial cable, telecommunications cable, winding wire, and insulated wire. Copper and wire cable are used in brass, roofing, and plumbing fittings and air conditioning systems.

The main competitors of the company are BHP Billiton Limited, CorporaciĆ³n Nacional del Cobre de Chile, and Caledonia Mining Corporation, based in Toronto.
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